Bares Capital Management Inc. raised its stake in shares of Fastenal (NASDAQ:FAST) by 0.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,740,893 shares of the company’s stock after acquiring an additional 7,509 shares during the period. Fastenal makes up 7.8% of Bares Capital Management Inc.’s holdings, making the stock its 3rd biggest holding. Bares Capital Management Inc.’s holdings in Fastenal were worth $204,215,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds also recently made changes to their positions in the company. Wolverine Asset Management LLC acquired a new stake in shares of Fastenal during the fourth quarter valued at about $104,000. Exane Derivatives acquired a new stake in shares of Fastenal during the fourth quarter valued at about $110,000. SeaCrest Wealth Management LLC purchased a new position in shares of Fastenal in the fourth quarter valued at approximately $115,000. Signaturefd LLC purchased a new position in shares of Fastenal in the first quarter valued at approximately $117,000. Finally, Migdal Insurance & Financial Holdings Ltd. boosted its stake in shares of Fastenal by 87.8% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,500 shares of the company’s stock valued at $135,000 after purchasing an additional 1,169 shares during the period. Institutional investors and hedge funds own 84.79% of the company’s stock.
In related news, insider William Joseph Drazkowski sold 7,500 shares of Fastenal stock in a transaction that occurred on Tuesday, March 6th. The shares were sold at an average price of $56.64, for a total value of $424,800.00. Following the completion of the transaction, the insider now owns 9,460 shares in the company, valued at $535,814.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider James C. Jansen sold 29,758 shares of Fastenal stock in a transaction that occurred on Wednesday, May 16th. The stock was sold at an average price of $52.51, for a total transaction of $1,562,592.58. Following the completion of the transaction, the insider now owns 22,588 shares of the company’s stock, valued at approximately $1,186,095.88. The disclosure for this sale can be found here. Insiders purchased 2,155 shares of company stock valued at $107,678 in the last quarter. 0.56% of the stock is owned by insiders.
Shares of Fastenal stock opened at $52.87 on Friday. Fastenal has a 52-week low of $52.38 and a 52-week high of $52.89. The company has a quick ratio of 2.30, a current ratio of 5.11 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $15.10 billion, a P/E ratio of 27.39, a PEG ratio of 1.50 and a beta of 1.01.
Fastenal (NASDAQ:FAST) last issued its quarterly earnings results on Wednesday, April 11th. The company reported $0.61 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.61. Fastenal had a net margin of 13.66% and a return on equity of 28.69%. The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter in the previous year, the firm earned $0.46 earnings per share. The firm’s quarterly revenue was up 13.2% on a year-over-year basis. equities research analysts anticipate that Fastenal will post 2.51 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 23rd. Investors of record on Wednesday, April 25th will be paid a $0.37 dividend. The ex-dividend date is Tuesday, April 24th. This represents a $1.48 dividend on an annualized basis and a yield of 2.80%. Fastenal’s dividend payout ratio is currently 76.68%.
FAST has been the subject of several recent research reports. Stephens raised their price objective on shares of Fastenal from $54.00 to $62.00 and gave the company a “buy” rating in a research note on Thursday, January 18th. Credit Suisse Group raised shares of Fastenal to a “buy” rating and set a $61.00 price objective for the company in a research note on Thursday, January 18th. Zacks Investment Research raised shares of Fastenal from a “hold” rating to a “buy” rating and set a $58.00 price objective for the company in a research note on Friday, January 19th. Northcoast Research set a $60.00 price objective on shares of Fastenal and gave the company a “buy” rating in a research note on Friday, March 2nd. Finally, Robert W. Baird reissued a “buy” rating and issued a $57.00 price objective on shares of Fastenal in a research note on Tuesday, March 6th. One analyst has rated the stock with a sell rating, seven have given a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $54.07.
Fastenal Company Profile
Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, and internationally. It offers fasteners, and other industrial and construction supplies under the Fastenal name. The company's fastener products include threaded fasteners, such as bolts, nuts, screws, studs, and related washers, which are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.
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